Documents to Keep In Mind while Investing In Residential Properties

Residential Property

Having their own home is a dream that every person has, but there are a few vital elements that are important in the process of realizing that dream. Property documents are one such element. While investing in a residential property in Ghaziabad, or any other city, a person should make sure that they have all the required documents in place.

Here are few of the important property documents that one should keep in mind while buying a residential property, an apartment, or an independent house:

  • Sales deed: It is a crucial legal document which acts as a proof of sale and transfer of ownership of the property from the seller to the buyer. A sales deed needs to be mandatorily registered. Before the sales deed is executed, one should check for the compliance of the terms and conditions, as agreed upon between the buyer and the seller. The buyer should also check whether the property has a clear title or not, before the sales deed is executed. Before the execution of the sales deed, the seller should settle the various statuary payments, such as property tax, cess, water charges, electricity charges, etc.
  • Mother Deed: This deed is also known as the parent deed. This legal document traces down the original or the antecedent owner of the property. This deed includes the changes in the ownership through time, be it through inheritance, sale, partition, or gift. In case of the absence of the Mother Deed, the necessary certified copies should be obtained from the appropriate authorities.
  • Building approval plan: This document certifies that the building layout has been approved by the appropriate planning authorities. The authorities sanction a building approval plan on the basis of zonal classification, floor area ratio, road width, and plot depth.
  • Encumbrance certificate: This document certifies whether or not the property carries any monetary or legal liabilities, or if it has any litigations pending. This certificate can be obtained from the office of the appropriate registration authority.

These are a few of the important documents that one should keep in mind while investing in a residential property. One can check out various blogs and websites on the internet to know more about the purchase of residential properties.

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